Prices are facing bearish pressure from descending trendline resistance, horizontal swing high resistance, 100% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards horizontal swing low support in line with 127.2% Fibonacci extension and 161.8% Fibonacci retracement. If prices were to push up further, prices might face resistance from 161.8% Fibonacci extension and 78.6% Fibonacci retracement fibonacci confluence zone. EMA is also above prices, showing a bearish pressure for prices.
Trading Recommendation
Entry: 0.69290
Reason for Entry:
Descending trendline resistance, horizontal swing high resistance, 100% Fibonacci extension, 78.6% Fibonacci retracement
Take Profit: 0.69059
Reason for Take Profit:
Horizontal swing low support, 127.2% Fibonacci extension, 161.8% Fibonacci retracement
Stop Loss: 0.69434
Reason for Stop Loss:
161.8% Fibonacci extension, 78.6% Fibonacci retracement